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Dubailand: To Be Or Not To Be?


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Why were we wasting time? Because they were paying us money, as opposed to us paying them money for oil as we usually do...but enough political discussion (and that related to the topic at hand)...during this recession even the oil producing countries are cutting back, and that is affecting the amusement industry even more...

Just a short quote from that first article:

When one project is put on hold halfway around the world, firms in Orlando feel a sudden squeeze.

Case in point: Busch Entertainment Corp. announced that the Dubai-owned developer Nakheel put its plans for four theme parks on ice, and local companies had to contend with layoffs and other ways to reduce expenses. . . .

Like it or not, it's a small world, after all.

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  • 2 weeks later...

F-1X Runs Into Trouble:

Reports from the Middle East suggest that F1-X, the Formula 1 theme park in Dubai, has been postponed by developer Union Properties. It seems that the project has run out of money. The plan was to fund the park with the sale of houses, but the collapse of the UAE property markets has meant that income dried up and with banks unable to loan money and the government showing no interest in saving the project, it seems that the whole thing has been shelved.. . .

http://www.grandprix.com/ns/ns21208.html

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  • 5 months later...

Recession Threatens to Derail Dubailand:

Walk through the grand arched entrance of Universal Studios’ Dubai theme park, and you step into ... wind-swept desert.

No Hollywood thrill rides, no ticket kiosks, no studio backlots. Even the guard house and the construction office sat empty during a recent visit.

The planned park is part of a vision by Dubai officials to turn a patch of sand on the edge of the Mideast city-state into Dubailand — a vast amusement complex twice the size of Walt Disney World studded with theme parks including Universal Studios, Six Flags and Legoland, along with resorts, the world’s biggest shopping mall and the first golf course designed by Tiger Woods.

It is now unclear when or if much of it will ever get built. Dubailand has hit the harsh economic realities of the global downturn, much like the rest of Dubai, which once seemed unstoppable in its drive to build the biggest, the tallest, the most extravagant. ...

http://dcnonl.com/article/id35087

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...Six Flags, the New York-based amusement park chain, said plans for its first Mideast park were "moving forward" but provided no additional information. The company filed for bankruptcy protection in June....

From the article I cited in post 40 above. The article also attempts to answer your first question.

Terpy, trying to help

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